Tuesday, August 25, 2009

Bloomberg Beats Federal Reserve

The Federal Reserve lost a Freedom of Information lawsuit brought by Bloomberg News. Now the Reserve must list the companies that received emergency loans during the last year. Or maybe not.

We may not see any lists soon, according to Matthew Goldstein at Reuters:

""Remember, the Fed fought against releasing the names of the banks that got an indirect bailout from the federal government's rescue of American International Group. And the Fed has been less then forthcoming in providing information about the $30 billion in ailing assets it took on from Bear Stearns as part of the forced sale of the failing investment bank to JPMorgan Chase."

I don't know about you, but all those million dollar bonuses that followed were more than annoying to me.